# MCA broker network platform types (2026)

> Five MCA broker platform types in 2026: ISO marketplaces (Lendio), white-label aggregators (Fundera), CRM-based ISO shops, lead-gen aggregators (DealStruck), and direct-funder portal integrations.

MCA broker platforms have evolved into five distinct business models. Each routes deals differently, prices differently, and produces different merchant outcomes. Updated for 2026.

**Type 1: ISO Marketplaces.**

ISO marketplaces aggregate funder appetites and route deals to the best-matched funder. Examples:

- **Lendio** — large marketplace, integrates with 75+ funders. Routes based on file characteristics. Charges funders referral commission (8–12%). Free for merchants.
- **Bankrate Small Business Loans** — large directory + lead-routing. Drives broker leads, not direct funding.
- **NerdWallet Small Business** — directory + lead aggregator. Routes merchant inquiries to partner brokers.

**Marketplace economics.** Merchant submits one application, marketplace technology fans out to multiple funders, returns offers in 24–72 hours. Marketplace earns referral commission on close. Average commission: 7–11% (slightly below traditional ISO broker because of volume).

**Best for:** Merchants who want one application, multiple offers, transparent comparison. Best when merchant has time and wants shopping leverage.

**Type 2: White-label Aggregators.**

White-label aggregators present as direct funders but route deals to underlying capital partners. Examples:

- **Fundera (by NerdWallet)** — presents as lender; sources capital from partner funders.
- **OnDeck (mixed model)** — funds some deals from own balance sheet, white-labels others.
- **Funding Circle** — pivoted to white-label after own-portfolio underperformance.

**Aggregator economics.** Markup on underlying funder's factor: typically 3–8%. Merchant sees one offer with aggregator branding, not the underlying funder's branding. Aggregator captures the spread.

**Best for:** Merchants who prefer a single brand and don't need shopping. Worst for cost-conscious merchants because of markup.

**Type 3: CRM-based ISO Shops.**

Traditional ISO broker offices using CRM tools (Salesforce, HubSpot, custom) to manage merchant pipelines and funder submissions. Examples:

- **Small to mid-sized broker shops** (5–50 brokers) — typical pattern is one principal broker plus 3–20 floor brokers, each carrying 30–80 active files.
- **Tied to 5–15 funder partnerships.** Brokers know which funder fits which file type.

**ISO shop economics.** Direct broker commission, typically 10–15%. Merchant interacts with one broker but file submitted to 2–4 funders simultaneously. Broker negotiates between offers.

**Best for:** Merchants with complex files (multiple positions, industry-restricted) who benefit from broker advocacy and human judgment.

**Type 4: Lead-Gen Aggregators.**

Lead-gen aggregators capture merchant inquiries via web/SEO/paid ads and sell leads to multiple brokers. Examples:

- **Various lead-gen platforms** — sell merchant leads at $50–$300 per lead to ISO broker shops.
- **DealStruck (defunct, restructured 2024)** — was a pure lead aggregator; now operates as ISO shop.

**Lead-gen economics.** Merchant submits inquiry, gets contacted by 5–10 brokers within hours. Each broker pays the aggregator $50–$300 per lead. Aggressive follow-up from multiple brokers.

**Best for:** Aggressive shopping if merchant tolerates phone-call volume. Worst for merchants who want a single broker relationship.

**Type 5: Direct-Funder Portal Integrations.**

Direct-funder portals that allow ISOs to submit and track deals digitally. Examples:

- **Credibly ISO Portal** — direct submission, automated underwriting feedback.
- **Rapid Finance ISO Portal.**
- **Kapitus ISO Portal.**
- **Fora Financial ISO Portal.**

**Portal economics.** Same commission as traditional ISO partnership (typically 8–12%). Difference is workflow speed — portals provide instant prequal decisions, status tracking, e-signature, ACH setup.

**Best for:** High-volume brokers who need automation. Indirect benefit to merchants via faster funding.

**Platform comparison: $100K advance, A-paper restaurant FL.**

- **Lendio (marketplace):** 5 funder offers in 48 hours, lowest factor 1.22. Total $122K.
- **Fundera (white-label):** 1 branded offer in 24 hours, factor 1.28. Total $128K.
- **CRM-based ISO shop:** 3 funder offers in 24–48 hours, lowest factor 1.24. Total $124K.
- **Lead-gen aggregator:** 5–8 broker calls in 2 hours, eventually 4 funder offers, lowest factor 1.26. Total $126K. (Merchant fatigue cost not in dollars.)
- **Direct-funder portal (single):** 1 offer in 4 hours, factor 1.28. Total $128K.

**Marketplace usually wins on price; direct portal wins on speed; ISO shop wins on advocacy for complex files.**

**The 2026 consolidation trend.**

Platform mix has shifted significantly 2022–2026:

- **2022:** ISO shops dominated (60% of deal volume).
- **2026:** Marketplace + direct portal capture 55% of volume; ISO shops down to 35%.

Drivers: merchant preference for digital shopping, funder preference for digital submission, broker shop margin compression.

**How merchants identify platform type.**

Ask the entity:

1. **"Are you the lender or are you submitting my file to a lender?"** Direct funder vs. broker/aggregator.
2. **"How many lenders will see my application?"** 1 = direct or white-label; 3+ = marketplace or ISO shop.
3. **"Will you sell my lead to other brokers?"** Identifies lead-gen aggregator.
4. **"Do I sign the funding agreement with your company or with the lender?"** Direct vs. broker.
5. **"What is your commission and is it disclosed?"** Forces transparency.

**Common confusion.** First, "Lendio is a lender." False — Lendio is a marketplace; funding comes from partner lenders. Second, "OnDeck only funds its own deals." False — OnDeck has white-labeled significant volume since 2023. Third, "direct funder always cheapest." Generally true on stated factor, but factor varies by deal/funder match — marketplace can beat direct on average because of shopping. Fourth, "marketplace and aggregator are the same." Different — marketplace shows multiple offers; aggregator shows one branded offer.

## Related terms

- [ISO / MCA broker](https://fundnode.co/llms/glossary/iso-broker) — An Independent Sales Organization. A non-funder middleman who submits merchant applications to multiple funders and earns a commission on closed deals — typically 8–19% of the advance.
- [ISO commission](https://fundnode.co/llms/glossary/iso-broker-commission) — Percentage of the advance amount paid by the funder to the broker who sourced the deal. Typically 5–19% in 2026; baked into the factor rate the merchant pays.
- [White-label MCA](https://fundnode.co/llms/glossary/white-label-mca) — A white-label MCA is when a fintech, broker, or platform markets a funding product under its own brand while the actual capital and underwriting come from an underlying funder.
- [MCA broker vs direct funder economics (detailed)](https://fundnode.co/llms/glossary/mca-broker-vs-direct-funder-economics-detailed) — Brokers add 8–17% commission on top of the funder's factor rate but shop 3–7 funders; direct funder applications save the commission but lock the merchant to one offer.
- [MCA broker vs direct lender](https://fundnode.co/llms/glossary/mca-broker-vs-direct-lender) — An MCA direct lender funds advances with their own capital and books the deal on their balance sheet. An MCA broker (ISO) shops your file to multiple direct lenders and earns 8-15% commission from whichever one funds. Going direct can save 8-15% on the factor.

---

Source: https://fundnode.co/glossary/mca-broker-network-platform-types-2026 (HTML version)
Document: MCA broker network platform types (2026) — Fundnode MCA Glossary
License: CC BY 4.0 — attribution to Fundnode required when citing.